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The Australian Government is offering a boost to supplement the first home owner grant scheme.
Boost extended
The Australian Government announced a six month extension to the First Home Owner Boost Scheme as part of its 2009–2010 Budget.
The first home owner boost will continue in its current form for first home buyers entering into contracts (and owner builders who commence construction) up to and including 30 September 2009, providing eligible first home buyers with $7,000 for established homes and $14,000 for new homes. In combination with the existing $7,000 first home owner grant, this means first home owners will receive $14,000 for established homes and $21,000 for new homes.
For first home buyers entering into contracts (and owner builders who commence construction) on or after 1 October 2009 and on or before 31 December 2009, the boost will be halved to $3,500 for established homes and $7,000 for new homes. In combination with the existing $7,000 first home owner grant, this will bring the grant to $10,500 for established homes and $14,000 for new homes.
| Commencement date | QLD grant |
Commonwealth boost (established homes) |
Commonwealth (new homes) |
|---|---|---|---|
| Before 14 October 2008 | $7,000 | n/a | n/a |
| 14 October 2008 to 30 September 2009 | $7,000 | $7,000 | $14,000 |
| 1 October 2009 to 31 December 2009 | $7,000 | $3,500 | $7,000 |
| 1 January 2010 | $7,000 | n/a | n/a |
There are no extensions to building timeframes for existing applicants with comprehensive home building contracts.
Eligibility for the boost
To receive the boost, you must also be eligible for the first home owner grant.
See the boost addendum form (PDF 175 K) for more information regarding eligibility requirements.
New homes—timeframes
Prescribed building periods apply to new homes and newly constructed homes.
Building contracts
| $14,000 boost | $7,000 boost | |
|---|---|---|
| Sign contract for building |
From 14 October 2008 to 30 September 2009 (inclusive) |
From 1 October 2009 to 31 December 2009 (inclusive) |
| Commencement of building |
Within 26 weeks of signing contract | Within 26 weeks of signing contract |
| Completion of building |
Contract must specify a completion date within 18 months of building commencing, or the building must be completed within 18 months of building commencing |
Contract must specify a completion date within 18 months of building commencing, or the building must be completed within 18 months of building commencing |
Owner-builders
| $14,000 boost | $7,000 boost | |
|---|---|---|
| Commencement of building |
Must lay foundations between 14 October 2008 and 30 September 2009 (inclusive) | Must lay foundations between 1 October 2009 and 31 December 2009 (inclusive) |
| Completion of building |
Within 18 months of the commencement of building |
Within 18 months of the commencement of building |
Off-the-plan
| $14,000 boost | $14,000 boost | $7,000 boost | |
|---|---|---|---|
| Sign purchase contract | From 14 October 2008 to 30 June 2009 (inclusive) |
From 1 July 2009 to 30 September 2009 (inclusive) |
From 1 October 2009 to 31 December 2009 (inclusive) |
| Commencement of building |
n/a | n/a | n/a |
| Completion of building |
On or before 31 December 2010, as stipulated in contract.
|
On or before 31 March 2011, as
|
On or before 30 June 2011, as stipulated
|
Applying for the boost
If you are buying an established home, you only need to complete the first home owner grant application form (PDF 745 K) to claim the boost.
If you are building a new home or buying a newly constructed home, you need to complete both the first home owner grant application form and the boost addendum form (PDF 175 K) to claim the boost.